NEW YORK, July 6, 2023 /PRNewswire/ — The automotive audio speakers market size is forecast to increase by USD 7,682.2 million from 2022 to 2027, at a CAGR of 7.2%, according to the recent market study by Technavio. The growth of the market will be driven by the availability of cost-effective aftermarket speakers, growing demand for differentiated in-car experiences, and increased R&D to deliver superior products. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Technavio has announced its latest market research report titled Global Automotive Audio Speakers Market
Technavio has extensively analyzed 15 major vendors, including Alps Alpine Co. Ltd., Aurelius Group, Bang and Olufsen Group, BASSOHOLIC, Bose Corp., Burmester Audiosysteme GmbH, Continental AG, DENSO Corp., Fender Musical Instruments Corp., Goertek Inc., JL Audio Inc., JVCKENWOOD Corp., Masimo Corp., McIntosh Group, Meridian Audio Ltd., Pioneer Corp., Samsung Electronics Co. Ltd., Sony Group Corp., VerVent Audio Group, and Panasonic Holdings Corp.
Key Benefits for Industry Players and Stakeholders –
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Automotive Audio Speakers Market – Segmentation Assessment
The market is segmented by distribution Channel (OEM and Aftermarket), Application (Passenger vehicles and Commercial vehicles), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)
The market share growth in the OEM segment will be significant during the forecast period. As OEM is the original manufacturer of the vehicle’s components, OEM auto parts are the same ones used to build the vehicle. OEM parts typically come with a guarantee that the vehicle will work with them. OEMs can order directly from automakers and typically sell their products through branded auto dealers. OEM products are suggested through automakers and are frequently essentially more costly than secondary selling parts. However, new technologies such as 3D printing can transform the OEM supply chain and are expected to drive segment growth during the forecast period.
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Automotive Audio Speakers Market – Market Dynamics
Key drivers
The availability of cost-effective speakers in the automotive aftermarket is one of the key factors driving the market growth. The demand for after-retail auto parts and administration is developing due to rising consumer preference for better products and sound quality as they invest more time in their vehicles. Furthermore, OEMs are providing aftermarket products with additional features and increasing consumer expectations. There is a strong demand for the aftermarket replacement of speakers or entire sound systems due to their low prices. Hence, these factors are expected to drive the market growth during the forecast period.
Major Trends
The emergence of IoT-enabled smart speakers is one of the major trends shaping the market. The speakers are added with the latest features and rapid processing power for delivering a personalized experience in vehicles. Furthermore, manufacturers are collaborating with technology providers to include advanced features in more segments of their product portfolio to attract more customers. For example, Amazon has collaborated with several car manufacturers to integrate Alexa, its intuitive, artificial intelligence-based voice assistant, into their mainstream automotive infotainment systems to give the best experience. Hence, the emergence of IoT-enabled smart speakers will drive the growth of the market during the forecast period.
Significant Challenges
Design complexities and high costs of advanced automotive audio systems are significant challenges restricting market growth. Modern luxury and premium cars include numerous speakers, amplifiers, and tweeters, which increase the overall cost. For example, Burmester Audiosysteme offers a 3D sound experience which is a specially crafted sound system that is priced at more than USD 5,000. As a result, the high prices of such advanced audio systems make them unaffordable to many potential customers. Hence, these factors are expected to restrict the market growth during the forecast period.
What are the key data covered in this Automotive Audio Speakers Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the automotive audio speakers market between 2023 and 2027
Precise estimation of the size of the automotive audio speakers market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the automotive audio speakers market across APAC, North America, Europe, South America, and the Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of automotive audio speakers market vendors
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Automotive Audio Speakers Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.2% |
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Market growth 2023-2027 |
USD 7,682.2 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
6.8 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 53% |
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Key countries |
US, Canada, China, Japan, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alps Alpine Co. Ltd., Aurelius Group, Bang and Olufsen Group, BASSOHOLIC, Bose Corp., Burmester Audiosysteme GmbH, Continental AG, DENSO Corp., Fender Musical Instruments Corp., Goertek Inc., JL Audio Inc., JVCKENWOOD Corp., Masimo Corp., McIntosh Group, Meridian Audio Ltd., Pioneer Corp., Samsung Electronics Co. Ltd., Sony Group Corp., VerVent Audio Group, and Panasonic Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global automotive audio speakers market 2017 – 2021
Exhibit 18: Historic Market Size – Data Table on global automotive audio speakers market 2017 – 2021 ($ million)
4.2 Distribution Channel Segment Analysis 2017 – 2021
Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 – 2021 ($ million)
4.3 Application Segment Analysis 2017 – 2021
Exhibit 20: Historic Market Size – Application Segment 2017 – 2021 ($ million)
4.4 Geography Segment Analysis 2017 – 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
4.5 Country Segment Analysis 2017 – 2021
Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Distribution Channel
6.1 Market segments
Exhibit 30: Chart on Distribution Channel – Market share 2022-2027 (%)
Exhibit 31: Data Table on Distribution Channel – Market share 2022-2027 (%)
6.2 Comparison by Distribution Channel
Exhibit 32: Chart on Comparison by Distribution Channel
Exhibit 33: Data Table on Comparison by Distribution Channel
6.3 OEM – Market size and forecast 2022-2027
Exhibit 34: Chart on OEM – Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on OEM – Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on OEM – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on OEM – Year-over-year growth 2022-2027 (%)
6.4 Aftermarket – Market size and forecast 2022-2027
Exhibit 38: Chart on Aftermarket – Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Aftermarket – Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Aftermarket – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Aftermarket – Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Distribution Channel
Exhibit 42: Market opportunity by Distribution Channel ($ million)
Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)
7 Market Segmentation by Application
7.1 Market segments
Exhibit 44: Chart on Application – Market share 2022-2027 (%)
Exhibit 45: Data Table on Application – Market share 2022-2027 (%)
7.2 Comparison by Application
Exhibit 46: Chart on Comparison by Application
Exhibit 47: Data Table on Comparison by Application
7.3 Passenger vehicles – Market size and forecast 2022-2027
Exhibit 48: Chart on Passenger vehicles – Market size and forecast 2022-2027 ($ million)
Exhibit 49: Data Table on Passenger vehicles – Market size and forecast 2022-2027 ($ million)
Exhibit 50: Chart on Passenger vehicles – Year-over-year growth 2022-2027 (%)
Exhibit 51: Data Table on Passenger vehicles – Year-over-year growth 2022-2027 (%)
7.4 Commercial vehicles – Market size and forecast 2022-2027
Exhibit 52: Chart on Commercial vehicles – Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on Commercial vehicles – Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on Commercial vehicles – Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Commercial vehicles – Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Application
Exhibit 56: Market opportunity by Application ($ million)
Exhibit 57: Data Table on Market opportunity by Application ($ million)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 59: Chart on Market share by geography 2022-2027 (%)
Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison
9.3 APAC – Market size and forecast 2022-2027
Exhibit 63: Chart on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 64: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 65: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 66: Data Table on APAC – Year-over-year growth 2022-2027 (%)
9.4 North America – Market size and forecast 2022-2027
Exhibit 67: Chart on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on North America – Year-over-year growth 2022-2027 (%)
9.5 Europe – Market size and forecast 2022-2027
Exhibit 71: Chart on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on Europe – Year-over-year growth 2022-2027 (%)
9.6 South America – Market size and forecast 2022-2027
Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa – Market size and forecast 2022-2027
Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
9.8 China – Market size and forecast 2022-2027
Exhibit 83: Chart on China – Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on China – Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on China – Year-over-year growth 2022-2027 (%)
9.9 US – Market size and forecast 2022-2027
Exhibit 87: Chart on US – Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on US – Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)
9.10 Japan – Market size and forecast 2022-2027
Exhibit 91: Chart on Japan – Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on Japan – Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on Japan – Year-over-year growth 2022-2027 (%)
9.11 Germany – Market size and forecast 2022-2027
Exhibit 95: Chart on Germany – Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on Germany – Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on Germany – Year-over-year growth 2022-2027 (%)
9.12 Canada – Market size and forecast 2022-2027
Exhibit 99: Chart on Canada – Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on Canada – Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on Canada – Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 103: Market opportunity by geography ($ million)
Exhibit 104: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 109: Vendors covered
12.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
12.3 Alps Alpine Co. Ltd.
Exhibit 111: Alps Alpine Co. Ltd. – Overview
Exhibit 112: Alps Alpine Co. Ltd. – Business segments
Exhibit 113: Alps Alpine Co. Ltd. – Key news
Exhibit 114: Alps Alpine Co. Ltd. – Key offerings
Exhibit 115: Alps Alpine Co. Ltd. – Segment focus
12.4 Aurelius Group
Exhibit 116: Aurelius Group – Overview
Exhibit 117: Aurelius Group – Business segments
Exhibit 118: Aurelius Group – Key offerings
Exhibit 119: Aurelius Group – Segment focus
12.5 Bang and Olufsen Group
Exhibit 120: Bang and Olufsen Group – Overview
Exhibit 121: Bang and Olufsen Group – Business segments
Exhibit 122: Bang and Olufsen Group – Key offerings
Exhibit 123: Bang and Olufsen Group – Segment focus
12.6 Bose Corp.
Exhibit 124: Bose Corp. – Overview
Exhibit 125: Bose Corp. – Product / Service
Exhibit 126: Bose Corp. – Key news
Exhibit 127: Bose Corp. – Key offerings
12.7 Burmester Audiosysteme GmbH
Exhibit 128: Burmester Audiosysteme GmbH – Overview
Exhibit 129: Burmester Audiosysteme GmbH – Product / Service
Exhibit 130: Burmester Audiosysteme GmbH – Key offerings
12.8 Continental AG
Exhibit 131: Continental AG – Overview
Exhibit 132: Continental AG – Business segments
Exhibit 133: Continental AG – Key offerings
Exhibit 134: Continental AG – Segment focus
12.9 DENSO Corp.
Exhibit 135: DENSO Corp. – Overview
Exhibit 136: DENSO Corp. – Business segments
Exhibit 137: DENSO Corp. – Key news
Exhibit 138: DENSO Corp. – Key offerings
Exhibit 139: DENSO Corp. – Segment focus
12.10 Fender Musical Instruments Corp.
Exhibit 140: Fender Musical Instruments Corp. – Overview
Exhibit 141: Fender Musical Instruments Corp. – Product / Service
Exhibit 142: Fender Musical Instruments Corp. – Key offerings
12.11 JVCKENWOOD Corp.
Exhibit 143: JVCKENWOOD Corp. – Overview
Exhibit 144: JVCKENWOOD Corp. – Business segments
Exhibit 145: JVCKENWOOD Corp. – Key news
Exhibit 146: JVCKENWOOD Corp. – Key offerings
Exhibit 147: JVCKENWOOD Corp. – Segment focus
12.12 Masimo Corp.
Exhibit 148: Masimo Corp. – Overview
Exhibit 149: Masimo Corp. – Product / Service
Exhibit 150: Masimo Corp. – Key offerings
12.13 McIntosh Group
Exhibit 151: McIntosh Group – Overview
Exhibit 152: McIntosh Group – Product / Service
Exhibit 153: McIntosh Group – Key offerings
12.14 Panasonic Holdings Corp.
Exhibit 154: Panasonic Holdings Corp. – Overview
Exhibit 155: Panasonic Holdings Corp. – Business segments
Exhibit 156: Panasonic Holdings Corp. – Key news
Exhibit 157: Panasonic Holdings Corp. – Key offerings
Exhibit 158: Panasonic Holdings Corp. – Segment focus
12.15 Pioneer Corp.
Exhibit 159: Pioneer Corp. – Overview
Exhibit 160: Pioneer Corp. – Business segments
Exhibit 161: Pioneer Corp. – Key offerings
Exhibit 162: Pioneer Corp. – Segment focus
12.16 Samsung Electronics Co. Ltd.
Exhibit 163: Samsung Electronics Co. Ltd. – Overview
Exhibit 164: Samsung Electronics Co. Ltd. – Business segments
Exhibit 165: Samsung Electronics Co. Ltd. – Key news
Exhibit 166: Samsung Electronics Co. Ltd. – Key offerings
Exhibit 167: Samsung Electronics Co. Ltd. – Segment focus
12.17 Sony Group Corp.
Exhibit 168: Sony Group Corp. – Overview
Exhibit 169: Sony Group Corp. – Business segments
Exhibit 170: Sony Group Corp. – Key news
Exhibit 171: Sony Group Corp. – Key offerings
Exhibit 172: Sony Group Corp. – Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 173: Inclusions checklist
Exhibit 174: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 175: Currency conversion rates for US$
13.4 Research methodology
Exhibit 176: Research methodology
Exhibit 177: Validation techniques employed for market sizing
Exhibit 178: Information sources
13.5 List of abbreviations
Exhibit 179: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com
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